Can objects created by Performance of Creation be used as expensive material components?

Tasha’s Cauldron of Everything introduces the College of Creation which gets the class feature Performance of Creation:

As an action, you can channel the magic of the Song of Creation to create one nonmagical item of your choice in an unoccupied space within 10 feet of you. The item must appear on a surface or in a liquid that can support it. The gp value of the item can’t be more than 20 times your bard level, and the item must be Medium or smaller.

…this isn’t a huge deal since there is a gold limit, so the cost of what you could reach is fairly small, but later on the College grants:

Creative Crescendo

[…]

You are no longer limited by gp value when creating items with Performance of Creation.

Could you create expensive nonmagical objects such as a diamond for resurrection magic, or the 500 gp statue for imprisonment? Would it work when casting these spells?